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Business Bankruptcy : Chapter 7, Chapter 11, Assignment for Benefit of Creditors
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Old 03-01-2009, 01:57 PM
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Secured or unsecured claims

What is the name of your state (only U.S. law)? New Jersey

We are a small business providing maintenance services to customers. We have full time employees located at customers' sites. One of our customers has filed Chapter 11. They owe for 3 months worth of services previously provided. We supply no equipment, only maintenance services on existing equipment. Is my claim considered secured or unsecured under Chapter 11? Our employees have already been paid by our company for their time at work during the 3 months in question.
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Old 03-04-2009, 11:59 PM
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Your claim is unsecured.
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